Myriad Asset Management US LP Invests $6.37 Million in MercadoLibre, Inc. (NASDAQ:MELI)

Myriad Asset Management US LP acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,265 shares of the company's stock, valued at approximately $6,370,000. MercadoLibre makes up 2.7% of Myriad Asset Management US LP's portfolio, making the stock its 7th biggest holding.

A number of other institutional investors also recently modified their holdings of the stock. Caprock Group LLC raised its holdings in shares of MercadoLibre by 6.1% during the fourth quarter. Caprock Group LLC now owns 595 shares of the company's stock valued at $1,013,000 after purchasing an additional 34 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at about $32,000. Tokio Marine Asset Management Co. Ltd. increased its position in MercadoLibre by 5.9% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,388 shares of the company's stock valued at $2,360,000 after buying an additional 77 shares in the last quarter. DAVENPORT & Co LLC raised its stake in MercadoLibre by 4.6% during the 4th quarter. DAVENPORT & Co LLC now owns 5,009 shares of the company's stock worth $8,518,000 after buying an additional 222 shares during the period. Finally, Spire Wealth Management boosted its holdings in MercadoLibre by 2,840.0% in the fourth quarter. Spire Wealth Management now owns 441 shares of the company's stock worth $750,000 after acquiring an additional 426 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MELI shares. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research report on Tuesday, April 15th. Susquehanna increased their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research note on Friday, February 21st. Bank of America lifted their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 price target (up from $2,450.00) on shares of MercadoLibre in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $2,588.00.

MercadoLibre Price Performance

NASDAQ MELI traded up $7.78 during trading hours on Thursday, hitting $2,581.74. The company had a trading volume of 238,374 shares, compared to its average volume of 381,174. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm has a market capitalization of $130.89 billion, a price-to-earnings ratio of 68.48, a PEG ratio of 1.12 and a beta of 1.61. MercadoLibre, Inc. has a 52 week low of $1,550.00 and a 52 week high of $2,635.88. The firm has a 50 day simple moving average of $2,264.36 and a 200 day simple moving average of $2,053.04.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter last year, the business posted $6.78 earnings per share. The firm's revenue was up 37.0% compared to the same quarter last year. Equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.